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of the united states and some of the biggest names in business are here to join me. first, the politics of oil. america's energy independence is a pivotal issue in the presidential campaign. how could the election's outcome impact the industry and houston's economy? i will ask richard kinder, chairman and ceo of oil and gas pipeline giant kinder morgan. >>> bhp billiton drilling deep into texas shale. the mining company is spending billions to cement its foothold. chief executive mike yeager is here to explain how the booming energy source is transforming his entire business. the race is on to find the next big gusher. where will the top energy investors see explosive new profits? i will have joe foster. even when they say eight it's not, it is always about money. melissa: all right the first let's take a look at the day's market headlines while we look at that gorgeous campus. a slate of economic reports caused stocks to end the day mixed. weak data out of china and higher than expected u.s. jobless claims spooked investors early but stocks came off insession lows. the dow closed up 18 points
discoverries, make it a bigger play for the united states of america to reduce imports. the president said last week in his acceptance speech, if we follow his plan we will be off imports by 2020. that is a nonsense statement. there is nothing in the president's plan that would bring us anywhere close unless we reduce demand by continued recession and use ever less oil which is one of the reasons that we have changed the import relationship, reduced demand because people can't afford to buy oil in this day and age at these prices. so they are reducing demand. but in terms of increasing production --. melissa: your bottom line argument is that we shouldn't step off the gas in other development areas just because we think that all of this other supply is coming on board? is there evidence that is what is going on? >> no. we've been emphasizing the shale plays because it is private land, with state permits. you know, drilling on federal lands is down 40% over the last three years. we have decreased our investments under federal jurisdiction while we have increased private and state jurisdictional
of the oil from the middle east has to go through in order to get to europe and the united states. libya, for example, has brought its oil industry back online. it is pumping more than i believe a million barrels a day. these are essential to the oil markets internationally and to the price of gas here in the united states. so it's not just oil. it's also international security. it is future of israel. it is our long-term interests in the middle east. melissa: is it working? i hear what you're saying and you look at pictures and see what happens, you have to ask yourself is it working? >> of course those of us who have been out there, we're shocked and we're obviously very, very saddened by these events and our first reaction of one, gee, why does this happen? what we have to do is first of all see what the governments will do in response to these attacks. they have an absolute responsibility to protect embassies and diplomatic establishments. this was not done at all in the case of egypt. the libyans tried. there was a major gunbattle with terrorists involved. we have to see in days ahe
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